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adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceilinfrom years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and no
adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans...
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Jan 18, 2013
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they say they are going to have a vote that will delay the debt ceiling for three months. so what they are doing, if you really look at house republicans who took the majority two years ago, they did it standing on principle for pretty much every squirmish. it seems that they are becoming a bit more sophisticated, rather, but their understanding, it seems, is that you have to pick your battles. losing credit ratings and so forth, that's not a smart battle to wage. look at some of the most conservative members of the house talking to deirdre walsh at the end of their retreat for three days about picking their battles in a better way. >> deal with the smaller ones first, maybe build up a little momentum, credibility, not only with the credit markets but with the folks back home, that we can actually deal with these things, take the small one first, debt ceiling last, i think it's a rational, reasonable thing to do. >> now, for some, wolf, maybe even those in the republican house leadership, like him talking about what is rational and reasonable, that may be a bit jarring but
they say they are going to have a vote that will delay the debt ceiling for three months. so what they are doing, if you really look at house republicans who took the majority two years ago, they did it standing on principle for pretty much every squirmish. it seems that they are becoming a bit more sophisticated, rather, but their understanding, it seems, is that you have to pick your battles. losing credit ratings and so forth, that's not a smart battle to wage. look at some of the most...
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Jan 17, 2013
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get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in the first place. it would do so by removing the cap on the treasury of borrowing money. its chances of passage in the republican controlled house are basically slim and none. but at least it allows democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare
get rid of the debt ceiling all together. that's the limit on how much money the government can borrow. the feds say they could run out of money to pay the bills as soon as next month but republicans refuse to raise the debt limit without new spending cuts. doug mckelway is life on capitol hill. what is the plan from these house democrats? good evening. >> well, bill, they introduced legislation today that would basically amend the statute. the law that put the debt ceiling in place in...
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Jan 14, 2013
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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Jan 15, 2013
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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Jan 16, 2013
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stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible then we can move on. it makes us look embarrassing to the rest of the world. stuart: what do you think the odds are of a downgrade? >> i think there's a 30% chance, maybe 35% chance. stuart: okay. we will check it out. thank you very much scott shellady always a pleasure. the cost of college tuition continues to rise, got it, but the number of students enrolling is on a decline. fears of massive college debt and the lack of job opportunities when you graduate, that has a lot of families realizing that maybe college isn't worth the investment. joining us now is the au
stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible...
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Jan 14, 2013
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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Jan 13, 2013
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obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling and push it off to say, june 30. you can't fight all three at the same time. a., i believe the democrats are as scared of the sequestration as the republicans are. there is nothing you can cut on the debt ceiling you can't cut on the continuing resolution. so i would say, mr. president, we are going to put the debt ceiling off to june 30. let me tell you why. between now and then, we are going on cut $3 trillion, $4 trillion -- whatever it is on the continuing resolution and the sequestration. if you stop us from doing that, you are going to put
obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling...
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bullets in ammunition magazines and improve background checks. vice president joe biden is meeting with house members today about gun control. the president said he would give details from the gun violence task force sometime later this week. at the white house, danielle nottingham, cbs 5. >>> the 16-year-old who opened fire
ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the...
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>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and m
>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our...
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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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Jan 14, 2013
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ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in debt ceiling. >> a repeat of the fiscal cliff? >> that's what politics is in dc. this is all games, all threats, all the clock is ticking down. makes you worry if the country's going to default. >> eric, here's the thing -- >> at the end of the day, sorry -- >> yeah. at the enof the day, there's a deal. >> yeah, this is like the debt ceiling is a phony argument. it's really about charter renewal. it's a renewal of a charter do continue spending, and what time and again the american people have been misled on the debt ceiling, what we are talking about you can't default. the government c
ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in...
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meantime the debt and the debt ceiling that we're about to hit again in february, the house is back in session today. they got to address that. republicans pushing for spending cuts at this time could include social security and today vice president biden sits down with cabinet members and members of congress to finalize his recommendation for gown control. we'll present them to the president tomorrow likely to include universal background checks. >> no sleep for you over the next week, right? thank you so much. tracie potts in washington, d.c. >>> former secretary of state colin powell is speaking out on nbc's "meet the press." he endorsed chuck hey goebl the new defense secretary. he said he would do a great job at the pentagon. he fired harsh words at his own republican party. >> there's also a dark, a dark vein of intolerance in some parts of the party. what do i mean by that? what i mean by that is they still sort of look down on minorities. how can i evidence that? when i see a former governor say that the president is schucking and jirv'g that's a slave term. >> u.s. will help f
meantime the debt and the debt ceiling that we're about to hit again in february, the house is back in session today. they got to address that. republicans pushing for spending cuts at this time could include social security and today vice president biden sits down with cabinet members and members of congress to finalize his recommendation for gown control. we'll present them to the president tomorrow likely to include universal background checks. >> no sleep for you over the next week,...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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Jan 19, 2013
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the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the p
the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say,...
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next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the debt ceiling fight all together and focus on sequester, continuing resolution? they probably have more room to fight? >> getting it in this order, putting debt ceiling last, other bills first is to their advantage because they're fighting about spen
next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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Jan 15, 2013
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once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same batehavior i've seen over d over and over again. they are days to buy, not sell. in order to get into this bull market, here is the bottom line, i think this market is simply taking a snooze after a big bull run. but wakes itself up perhaps with my clock and if history serves me right, they go higher not lower and it is turned out that their evaluations ended up being catalysts galore. bob in florida, bob >> it is fwrat to tais great to. south florida by way of teaneck, new jersey. i'm calling about krispy kreme donuts. i sold it and forgot about it and now it seems like th
once we will through the debt ceiling and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove brilliant exit prices? no. i bet that this is one of these moments where the world economies are going to be better. i say that because it is the same...
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Jan 19, 2013
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i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was
i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not...
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Jan 14, 2013
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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Jan 14, 2013
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one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the shutdown and the continuing resolution in this totally screwed up washington that we have right now with all these perverse incentives, that actually does represent progress if republicans are now only talking about a government shutdown and not a debt default. >> do you agree with that? >> i mean, not really. i know what you're saying but i don't really think we should give a lot of rewards. we citizens, we the political class, or we the media for different strains of this kind of leverage. i think the problem and it was in a
one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the...
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Jan 14, 2013
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ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. and the fact of the matter is, is that we have never seen the debt ceiling used in this fashion, where the notion was, you know what, we might default unless we get 100 percent of what we want. that hasn't happened. now, as i indicated before, i'm happy to have a conversation about how we reduce our deficits further in a sensible way. although one thing i want to point out is that the american people are also concerned about how we grow our economy, how we put people back to
ceiling, and your own history on the debt ceiling. and doesn't that suggest that we are going to go into a default situation because no one is talking to each other about how to resolve this? >> well, no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult. i went through this just last year. but what's different is we never saw a situation as we saw last year in which certain groups in congress...
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Jan 18, 2013
01/13
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CURRENT
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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Jan 18, 2013
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dennis: the debt ceiling quickly approaching. republicans struggling to come up with their next move. cheryl: planning seems to pick the can down the road yet again. rich and -- has a story. rich: the debt ceiling, automatic spending cuts, known as the sole questioner, and, of course, government spending set to expire. this is from paul ryan. what we want to achieve at the end of the day is a two-way discussion between democrats and republicans. out of that, hopefully, some progress being made to get this deficit and debt under control. we believe our obligation is to help prevent a debt crisis from hitting this country. republicans have had a tough spot here. the president of united states as he is not negotiating the debt ceiling. he says it is simply up to congress. it is due to spending that is already approved. the majority of republicans voted against the deal because there were no spending cuts. this was the first strategy session. we are going to have these fights throughout the spring. back to you. cheryl: we just had a
dennis: the debt ceiling quickly approaching. republicans struggling to come up with their next move. cheryl: planning seems to pick the can down the road yet again. rich and -- has a story. rich: the debt ceiling, automatic spending cuts, known as the sole questioner, and, of course, government spending set to expire. this is from paul ryan. what we want to achieve at the end of the day is a two-way discussion between democrats and republicans. out of that, hopefully, some progress being made...
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Jan 17, 2013
01/13
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government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely del
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington....
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...
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Jan 14, 2013
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let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates one of your colleagues was on the telephone, and he described you, your words, not mine as one tough -- >> his words. >> as one tough bitch. >> yeah. >> and when you heard that, you thought what? >> what in the world is wrong with me? i was a pretty tough negotiator and hard to push around and i don't think they were used to my kind of toughness then. >> is his description in any way unfair? >> probably not. >> she's been called a lot of things, but she told us more than madam justice, she prefers another title. >> it's sonia from the bronx. >> what does it mean to be sonia from the bronx
let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates...
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he announced if congress doesn't raise the debt ceiling america will go into default on its loans and we might have to say good bye to florida. an economist named paul krugman is supportive of an idea as a stopgap. he is suggesting that the treasury mint a trillion dollar county and deposit it in the federal reserve which is how "the lord of the rings" starts, isn't it? i don't know if americans could be trusted with a trillion dollar coin. 100 billion bags of doritos comes down. the treasury will not mint a trillion dollar coin. that is a shame. wouldn't it be nice to mint up nine or ten and say we're even. get this crap you made out of here and leave us alone. thank you. this is a great video. this was shot at the u.s. military academy in west point. a cadet found a mouse in his dorm room and he released a it into the wild. >> you're free. go. get on out. good luck. >> how do you feel? >> i feel relieved. that he's not going to wake me up in my bed any more crawl on my leg. but kind of sad. just got to know him. and -- oh, no. no! you kidding me? he didn't last five minutes. >> jimm
he announced if congress doesn't raise the debt ceiling america will go into default on its loans and we might have to say good bye to florida. an economist named paul krugman is supportive of an idea as a stopgap. he is suggesting that the treasury mint a trillion dollar county and deposit it in the federal reserve which is how "the lord of the rings" starts, isn't it? i don't know if americans could be trusted with a trillion dollar coin. 100 billion bags of doritos comes down. the...
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Jan 21, 2013
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one example the debt creel and controlli -- debt ceiling and what americans describe as out of control spending. what do key republicans take with the attitude toward congress at this point? >> to get real solutions president obama needs to understand what will pass in the republican led house. it will also be acceptable to him. lawmakers tend to be unhappy when the president goes around them. they called on mr. obama to do better. >> he speaks in general terms likes the executive order approach a whole lot better than the legislative approach. you can't get all that foreign with executive order. you have to legislate and you have to legislate realistically. you have to realize you don't control the entire congress. >> republicans don't like that the president is converting his campaign apparatus into a purpose that helped him in his second term. they are thinking that is probably not a good sign in working in a bipartisan fashion. >> one area where they do not agree at all is over the budget. it>> it has been a source of problems when they work on critical issues and budget is a key c
one example the debt creel and controlli -- debt ceiling and what americans describe as out of control spending. what do key republicans take with the attitude toward congress at this point? >> to get real solutions president obama needs to understand what will pass in the republican led house. it will also be acceptable to him. lawmakers tend to be unhappy when the president goes around them. they called on mr. obama to do better. >> he speaks in general terms likes the executive...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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Jan 19, 2013
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>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you know, engage in another process that results in a self-inflicted wound to the economy. >> this afternoon, carney calls on congress to pass an extension of the borrowing limit without delay. bill? >> bill: get ready for another battle. thanks, mike. mike immanuel from washington tonight. top story as we go around the world tonight in 80 seconds. >> china, had happened after a cargo ship ran aground on some rocks and sprang a leak. the crew reportedly trapped for seven hours in stiff winds and wonderful waives. the helicopter team pulled all four people on board to safety in just 35 minutes. germany.
>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you...
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Jan 21, 2013
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...